Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

PROSPECTS

Restrictions on the usage of hydrogenated oils came into effect in July 2018 in Taiwan thanks to an amendment to the Act Governing Food Safety and Sanitation. Due to the harmful compounds that can occur when using partially hydrogenated oils during the manufacturing process of margarines – which is known as man-made butter in Taiwan – its usage was banned across the whole food industry.

Butter benefits from the rise in “DIY baking” and its general use as a cooking ingredient

“DIY baking” either in cafés or in special bakery classrooms has been enjoying increasing popularity in Taiwan. This is benefiting butter, as an important ingredient in the baking process.

Consumers continue to prefer “natural butter” over “man-made butter”

Taiwanese consumers continued to prefer using natural butter rather than what is locally known as man-made butter (margarine). Foodservice outlets are more likely to use man-made butter, which has, until recently, generally been perceived as an unhealthy product in Taiwan.

COMPETITIVE LANDSCAPE

Fonterra continues to lead butter despite the increasing number of smaller brands

Fonterra Brands (New Young) Pte Ltd is well known for its butter products, helping it remain the clear leader in butter as well as overall butter and spreads in 2019. For many people Fonterra’s brands are synonymous with butter.

Snow Brand maintains its lead in margarines and spreads through product consistency and high visibility

Snow Brand Taiwan is the major player in margarines and spreads in Taiwan, accounting for almost half of total retail value sales. The company seems to have firmly put behind it the food scandal it was once embroiled in.

Since greater numbers of consumers increasingly care about diverse tastes in the food they make using butter, premium or differentiated butter is becoming more popular, generally at the expense of regular products. Some brands such as Isigny or Lescure have gained more awareness recently, especially among consumers who tend to make better-quality baked goods.

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Increasingly hectic lifestyles boost demand for convenience

Health and wellness to become more important in an increasingly competitive industry

FOODSERVICE

Sales to Foodservice

The shift towards fast casual dining influences the supply of packaged food to the foodservice industryGrowth in foodservice volume sales linked to rising demand due to the increasing reluctance to cook at homeTakeaway orders become more important, influencing trends in the foodservice supply of packaged food

Consumer Foodservice

Specialist coffee shops and dessert cafés among the most dynamic formats in consumer foodservice in 2019Indulgence remains at least as important as often wellness in terms of attracting consumersFood delivery apps continue to present challenges and opportunities to established foodservice players